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Dec 27, 2012
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all the bush tax cuts expire, the payroll tax cuts expire. doctors participating in medicare, see their reimbursements cut by more than 25%. good luck getting a doctor then. more than a trillion dollars in spending cuts are triggered. the economy probably falls back into recession, and merry christmas and happy new year from washington to you, the american people. heard about the offers and the counteroffers president obama and house speaker john boehner put on the table. if you live in the game area, you're going to be reading about the cliff whether you like it or not. we at starbucks have an opportunity and i believe a responsibility to use our company's scale for good, by sending a respectful and optimistic message to our officials to come together and reach important ground. this week, through december 28th, partners at our washington, d.c., area stores are writing come together on customer's cups. i am hugely in favor of this new starbucks initiative. not because i think writing come together on coffee cups will bring anybody in washing
all the bush tax cuts expire, the payroll tax cuts expire. doctors participating in medicare, see their reimbursements cut by more than 25%. good luck getting a doctor then. more than a trillion dollars in spending cuts are triggered. the economy probably falls back into recession, and merry christmas and happy new year from washington to you, the american people. heard about the offers and the counteroffers president obama and house speaker john boehner put on the table. if you live in the...
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Dec 29, 2012
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we know the republicans are going to lose the fight of taxes because tax rates are going to go up for every -- the only question is how many people they go up for. so if you already know what the outcome is going to be, the question is how much punishment do they want to take? it is possible that they would wait after january 1. they could say we're going to cut taxes now instead of vote to allow them to go up. gwen: let's move on. because there's one more thing we want to go to. from iran to syria to libya to egypt to israeli, palestinian standoff over gaza, the obama administration's wishes have seldom been grapted. >> we and the world have joined in condemning the brutality of the assad regime. >> no one wants to determine what happened that night in benghazi more than the president and i do. >> and this administration has either been guilty of colossal incompetence or engaged in a coverup. >> a red line should be drawn right here. before iran completes the second stage of nuclear enrichment necessary to make a bottom. >> -- bomb. >> i will not keep american es in harm's way a sing
we know the republicans are going to lose the fight of taxes because tax rates are going to go up for every -- the only question is how many people they go up for. so if you already know what the outcome is going to be, the question is how much punishment do they want to take? it is possible that they would wait after january 1. they could say we're going to cut taxes now instead of vote to allow them to go up. gwen: let's move on. because there's one more thing we want to go to. from iran to...
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Dec 23, 2012
12/12
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he's all about taxes. he has this mandate on taxes. the spending cuts, the need to get us out of this mess, he hasn't been serious about those, and then that's unfortunate. so, you know, i think where mick and i may be part company is this needs the big deal. i'm okay to say, president, you won. you can tax these rich people you seem to dislike so much, but, you know what? come up with spending cuts. we're borrowing ail trillion dollars a year, and he's not. >> i want to show you one of the our latest polls, and the question was which party should compromise more? 53% thought the republicans should compromise more, and 41% said the democrats. so it's not just the president won. you've seen poll after poll. they blame republicans if their taxes go up. you don't want anyone's taxes to go up, and yet, you are admitting here, saying i think everybody's taxes are going up. >> i don't know it's a question of who should compromise more? we recognize in order to get to a compromise. the question is who is supposed to lead? the president is the
he's all about taxes. he has this mandate on taxes. the spending cuts, the need to get us out of this mess, he hasn't been serious about those, and then that's unfortunate. so, you know, i think where mick and i may be part company is this needs the big deal. i'm okay to say, president, you won. you can tax these rich people you seem to dislike so much, but, you know what? come up with spending cuts. we're borrowing ail trillion dollars a year, and he's not. >> i want to show you one of...
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Dec 22, 2012
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he wants more spending and tax hikes and that will hurt our economy . he refuses to challenge the members of his family to deal with entitlementriform and the big issues that are facing our nation. president obama said a deal could be reached but that appears unlikely. he took off for hawaii and landed with his family for a shorter than usual christmas break. he said he is it a hopeless optmist. he is scaling back and pushing for a tax cut for the middle class and calling for compromise. it can only pass from democrats and republicans and no one gets 100 percent of what they want. everyone has to give a bit in a sensible way. we move forward together or not at all. in addition to making bush era tax cuts permanent for the middle class. let president want to preserve unemployment benefits if congress doesn't act. that know amount to an achievable goal and something that can get dun before the end of the year. >> steve, thank you for that. and now turning to the scathing report against the state department. it is fueling out a debate over what they call t
he wants more spending and tax hikes and that will hurt our economy . he refuses to challenge the members of his family to deal with entitlementriform and the big issues that are facing our nation. president obama said a deal could be reached but that appears unlikely. he took off for hawaii and landed with his family for a shorter than usual christmas break. he said he is it a hopeless optmist. he is scaling back and pushing for a tax cut for the middle class and calling for compromise. it can...
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Dec 22, 2012
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republicans are fighting any tax increases at all, but he had a warning, too, and said it is not the time for more self-inflicted wounds. he knows the consequences of america going off the cliff. >> presumably, it is also not the time for more political posturing. we've had months now of this political theater. and the markets are reacting. they have closed down. surely the financial crisis is now upon us. >> that is absolutely true. he said actually american people understand the need for compromise, doing a deal on all sorts of things in life. he said that their elected representatives do not follow the same pattern of behavior and should start doing that. he is conceding that america currently has a dysfunctional political system in washington, and it is taking it to the edge of the fiscal cliff with all the consequences that we know will follow. the consequences are being revealed in the reaction of the markets here in america and in europe. people know the recession could follow if they do not do a deal, and that is why he is trying to get one. >> thank you very much for joining
republicans are fighting any tax increases at all, but he had a warning, too, and said it is not the time for more self-inflicted wounds. he knows the consequences of america going off the cliff. >> presumably, it is also not the time for more political posturing. we've had months now of this political theater. and the markets are reacting. they have closed down. surely the financial crisis is now upon us. >> that is absolutely true. he said actually american people understand the...
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Dec 25, 2012
12/12
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basically i pay taxes. you pay taxes. melissa: on pays taxes? >> exxon does not pay their fair share. they get tax breaks that are written into the law by their very highly-paid lobbies and supported by the many congresspeople who they give millions of dollars to every year in election campaigns. melissa: but still you said tax breaks. that is tax breaks that is their money hanging on to. it is not money they're getting back from congress. it is their money. >> it is money that everyone else has to pay. you know they get a special tax break for, for instance, if they want to make a project internationally they have a special government-backed loan program at u.s. export import bank. last year that program alone provided $10.4 billion fossil fuel subsidies. melissa: can i ask you better for my children and went out like the navy and spent $26 a gallon on biofuels or the air force which is spending $59 a gallon would that be better for my children we were all doing it. i don't like the air force and navy doing that. that is bad for my children's f
basically i pay taxes. you pay taxes. melissa: on pays taxes? >> exxon does not pay their fair share. they get tax breaks that are written into the law by their very highly-paid lobbies and supported by the many congresspeople who they give millions of dollars to every year in election campaigns. melissa: but still you said tax breaks. that is tax breaks that is their money hanging on to. it is not money they're getting back from congress. it is their money. >> it is money that...
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Dec 27, 2012
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they're balanced on increasing taxes. i don't like increasing taxes. i like pro-growth economics but we need to cut spending. right now the law does it. i think go over the cliff. we know exactly what is going on. i'm concerned about a lot more things around the globe, particularly corporate earnings than i am the fiscal cliff. adam: all right. jeffrey cleveland, you're an economist, which is worse, raising taxes doing austerity all at once? what you do i this? >> i think the biggest problem is the uncertainty with all this. we're at december 27th. we're talking about changing the rules of the game. i think from an economist's standpoint, from an investor's standpoint rules, whether they're tax rates or spending rates, those are the signposts for the entrepeneurs. that is how entrepreneurs set the agenda for growth and economic activity. if you're adjusting those signposts, adam, at the last second, that is bad for growth. sort of like if you're on the super high wand a keep changing exit signs. you can't stop. adam: steve hayes, i will get to you in a
they're balanced on increasing taxes. i don't like increasing taxes. i like pro-growth economics but we need to cut spending. right now the law does it. i think go over the cliff. we know exactly what is going on. i'm concerned about a lot more things around the globe, particularly corporate earnings than i am the fiscal cliff. adam: all right. jeffrey cleveland, you're an economist, which is worse, raising taxes doing austerity all at once? what you do i this? >> i think the biggest...
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Dec 24, 2012
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that plan would block tax hikes for those earning $250,000. it would extend unemployment benefits to 2 million americans and put off spending cuts until the new year brings a new congress. our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of republicans to cross party lines and vote with them on the whole concept of raising any taxes. especially what the president wants which is something that is raising taxes on all americans making more than $250,000. that's the senate. never mind the house, which of course, made clear to the house speaker that they won't even go for something that's a million dollars or more when it
that plan would block tax hikes for those earning $250,000. it would extend unemployment benefits to 2 million americans and put off spending cuts until the new year brings a new congress. our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats...
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Dec 24, 2012
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taxes himself. and we didn't talk about much in this except for mitt romney's character and his bank account and those things. it was a sort of the seinfeld election, the election about nothing. and e president won anyway. he returned to washington, and what we have now is an atmosphere here where people can't think about big stuff, they can't even conceive of the idea of doing big things. gregg: right. >> and it shouldn't be surprising to us now that as we get down to the end and we get to the cliff itself that what everybody's talking about is shrinking the field and just doing something desperate just to patch to get by into the new year. gregg: speaking of small and cynical, let me carry that forward -- [laughter] with the remarks of senator john barrasso who yesterday on fox news sunday said he thinks the president is eager to go over the cliff because he senses victory. the president senses victory at the bottom of the cliff. now, that's a pretty cynical point of view, but i wonder if it's rea
taxes himself. and we didn't talk about much in this except for mitt romney's character and his bank account and those things. it was a sort of the seinfeld election, the election about nothing. and e president won anyway. he returned to washington, and what we have now is an atmosphere here where people can't think about big stuff, they can't even conceive of the idea of doing big things. gregg: right. >> and it shouldn't be surprising to us now that as we get down to the end and we get...
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Dec 23, 2012
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. >> like to move on to the issue bigger committee tackled yesterday, which is the september 11 tax on the u.s. mission and an x in benghazi. -- attacks on the u.s. mission and annex in benghazi. three other officials were placed on administrative leave. it may or may not be disciplined. are you satisfied that the investigation is done? >> the most important thing is not whether or not the president called it a terrorist attack or anything like that. the most important thing is to nsure that no, benghazi's happen in the future. there were plenty of mistakes to report. in the future, that the coordination is better and we do not make the same mistakes. that is the most important thing. it was a mistake for mitt romney to use this as a political thing during the campaign. i think foreign policy should be bipartisan to the extent that is possible, and in a time of tragedy, americans need to rally around -- rally together and not try to use it for political, partisan purposes. we need to dissect it, see what happened and make sure it never happens again. there were recommendations that wer
. >> like to move on to the issue bigger committee tackled yesterday, which is the september 11 tax on the u.s. mission and an x in benghazi. -- attacks on the u.s. mission and annex in benghazi. three other officials were placed on administrative leave. it may or may not be disciplined. are you satisfied that the investigation is done? >> the most important thing is not whether or not the president called it a terrorist attack or anything like that. the most important thing is to...
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Dec 28, 2012
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and all tax rates will go up on income tax and estate taxes and all the bad stuff will happen, and how that's good politics. >> look, politicians are creatures of narrow self-interest. from the self-interested standpoint of a republican house member from a safe district who fears a primary challenge, yes, it's better for them to wait three days, cast -- go over the cliff, cast a vote to cut taxes and basically screw all the people who are going to be affected by it preserving their own jobs than it is to agree to a tax increase now and risk the wrath of the tea party right two years from now. >> chris, let me ask you about another possible, i hope it doesn't happen. next tuesday or next wednesday when the market reopens on january 2nd and they fully realize at that point that this cliff has been gone over and the congress has failed to meet its own targets which it set itself when it set this cliff up, who will pay the price if, say, the market drops 500 or 1,000 points and keeps dropping for two or three days and that creates the chances for a second dip, a second recession? who will
and all tax rates will go up on income tax and estate taxes and all the bad stuff will happen, and how that's good politics. >> look, politicians are creatures of narrow self-interest. from the self-interested standpoint of a republican house member from a safe district who fears a primary challenge, yes, it's better for them to wait three days, cast -- go over the cliff, cast a vote to cut taxes and basically screw all the people who are going to be affected by it preserving their own...
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Dec 23, 2012
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no tax increases to people below but taxes for people above. he won 60% of the voters said they were for it in the exit polls including some republicans. >> reporter: so again there is senator chuck schumer. so certainly still big topic of conversation despite the fact that everyone is now on recess. alex, yesterday we spoke to some folks who said this is really weighing on them as they enter the holiday season, as they do their christmas shopping, the uncertainty in washington kind of passing a cloud over their holiday. as for president obama, this is a working vacation, but he's clearly also relaxing quite a bit as well. he played a game of golf yesterday, went to dinner with the first lady and some friends. today, alex, partisan bickering will be put aside when many members of congress, the president, and the first lady attend a memorial service for the late senator daniel inoue held here. >> thank you so much. joining me now, national political reporter for politico david cant niece and associate editor for "roll call," david drucker. good
no tax increases to people below but taxes for people above. he won 60% of the voters said they were for it in the exit polls including some republicans. >> reporter: so again there is senator chuck schumer. so certainly still big topic of conversation despite the fact that everyone is now on recess. alex, yesterday we spoke to some folks who said this is really weighing on them as they enter the holiday season, as they do their christmas shopping, the uncertainty in washington kind of...
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Dec 23, 2012
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tax. there's the whole medicare doc things that has to be texed there. ever single things that its own internal complications for voting and passage, on the smallest most minimal measure. no one is talking this weekend so you can't do anything unless you're talking. >> even the polls show the republicans are going to take had more blame if we go over the cliff, and around here they're saying merry cliffness. there is no reason for congress to come back this week. but this creates a real problem for the president. one, if we go over the cliff the white house is truly concerned about what the unknown effects will be on the economy on the stock market, but here's an even bigger thing it's president hoped to get some things done in january. in his first 100 days. he hoped to do now now firearm controls it immigration. and now whatever hopes for big tax reform are derailed. >> schieffer: when is the new congress sworn? i know for the president it's january 20. they come in on the third right? >
tax. there's the whole medicare doc things that has to be texed there. ever single things that its own internal complications for voting and passage, on the smallest most minimal measure. no one is talking this weekend so you can't do anything unless you're talking. >> even the polls show the republicans are going to take had more blame if we go over the cliff, and around here they're saying merry cliffness. there is no reason for congress to come back this week. but this creates a real...
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Dec 23, 2012
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republicans have talked about and said they're for tax rate increases. that is is a huge sea change in that party, the beginning of wisdom on physical sanity. >> gabby giffords, she did it with a smile. that took a lot of guts to get in front of that huge audience. chris: you can tell a lot of about these pols when people stand up for you. >> i have a new nomination. i would say the republican pizza owner in florida who lifted up president obama in front of the secret service. chris: were they reaching for their guns? >> looking apoplectic. i was one of the pool reporters. he goes up to obama and goes like that and i thought the secret service was going to body slam the guy. chris: that was gutsy. when we return, this christmas special, more of our awards. chris: it's time for one of our favorite awards every year, the foot in mouth prize. here goes. as we mentioned, before, mitt romney on his overseas tour trying to make friends over there but missing his mark in the interview with brian williams. >> in the short time you've been here in london, do they
republicans have talked about and said they're for tax rate increases. that is is a huge sea change in that party, the beginning of wisdom on physical sanity. >> gabby giffords, she did it with a smile. that took a lot of guts to get in front of that huge audience. chris: you can tell a lot of about these pols when people stand up for you. >> i have a new nomination. i would say the republican pizza owner in florida who lifted up president obama in front of the secret service....
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Dec 30, 2012
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is it just numbers in terms of tax brackets, were specific tax proposals? guest: believe what the two are fighting over is the threshold of the tax rates -- who is wealthy? people who make over $250,000 a year, or should that number be higher, $400,000, $500,000? another big sticking point is the estate tax. this has received a preferential tax rate dating back to the bush era tax cuts. it was extended again two years ago. that is the real sticking point. it divides the senate democrats. there are a number of senate democrats up for reelection in 2014 that not want to see that tax rate rise. that is a political football here as well. host: as we are in the final hours, what is motivating congress more, public perception, the stock market's? guest: i think it is both of those things. the stock market, all of the analysts i have talked to, they built in a certain amount of time to give congress a face to work this out. increasingly, there is concern that if they do not work this out, the markets will react. particularly kagel we go over the cliff and there is
is it just numbers in terms of tax brackets, were specific tax proposals? guest: believe what the two are fighting over is the threshold of the tax rates -- who is wealthy? people who make over $250,000 a year, or should that number be higher, $400,000, $500,000? another big sticking point is the estate tax. this has received a preferential tax rate dating back to the bush era tax cuts. it was extended again two years ago. that is the real sticking point. it divides the senate democrats. there...
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Dec 26, 2012
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the payroll tax holiday will expire on new year's day. that means most people will start paying more taxes in each paycheck. another 21 million americans would lose federal emergency unemployment benefits and those, let's remember, are people struggling the most right now. across the entire economy going over the cliff could slow the current growth rate of 3.1% and risk sparking another recession. joining us now to break it down from washington is cnbc's john harwood. thanks for being here. >> hey, ari. >> remind us where we were before plan b, how far apart were the last comprehensive offers between the president and negotiators? >> a few hundred billion dollars, which is a lot of money, sounds like a lot of money, but in the context of a ten-year budget deal when you have some very large programs that can be tweaked one way or another, is not that much. they were within shouting distance if the speaker could bring his caucus along to support the deal that he was promoting and getting close to striking with the president, but it's clear
the payroll tax holiday will expire on new year's day. that means most people will start paying more taxes in each paycheck. another 21 million americans would lose federal emergency unemployment benefits and those, let's remember, are people struggling the most right now. across the entire economy going over the cliff could slow the current growth rate of 3.1% and risk sparking another recession. joining us now to break it down from washington is cnbc's john harwood. thanks for being here....
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Dec 23, 2012
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will wring their hands and then hopefully we're going to get a deal, which is going to require raising taxes. republicans going to hate and cutting back entitlements and democrats like the. and it will require a complex. i wish dwight eisenhower here work to engineer that compromise. >> two quick questions. the first one is in response to something you said just a few minutes ago. i just came here from the vietnam memorial wall, and there are some names from 1959 picks i think those need to be noted at least in a footnote. this happening under president eisenhower's watch. >> that's true. >> the bigger question as with or spoken to or spoken, you've only or spoken to you for i'm about but have a chance to read it yet, so i don't know the depth to which you go in the u2 affair that's already been touched on, but i am mindful that -- 1986 study called mayday. >> a great book. >> the very end of the book, he accounts eisenhower writing his memoirs in 1954, calling up john mckeown, then director of the cia, st. john, can you remind me how that u2 plane came down? and he quotes, this quote either
will wring their hands and then hopefully we're going to get a deal, which is going to require raising taxes. republicans going to hate and cutting back entitlements and democrats like the. and it will require a complex. i wish dwight eisenhower here work to engineer that compromise. >> two quick questions. the first one is in response to something you said just a few minutes ago. i just came here from the vietnam memorial wall, and there are some names from 1959 picks i think those need...
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Dec 26, 2012
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because of the tax increase. i thought it was going to wreck the economy. it didn't wreck the economy. in '95 and '96, a lot of tough decisions by republicans, a lot of cuts that weren't popular with democrats as well as welfare reform. we heard all the horror stories. but you look at the tough decisions you guys made in '93 and '94, the tough decisions that we made sometimes that you agreed with and sometimes you didn't. taken together, those were three or four pretty dramatic years of political leaders stepping up and doing unpopular things. >> but that's what -- >> can we do that in 2013? >> -- works. >> i know. is washington still capable of that? >> i predict that it will happen. i think you will have, just like we did then, you'll have people out here and out here that won't agree with that. but i think you'll have an operating majority to do something. i believe that will happen. >>> still ahead, we're joined by actor and director ben affleck and the emmy-winning star of "veep," julia louis-dreyfus. first,
because of the tax increase. i thought it was going to wreck the economy. it didn't wreck the economy. in '95 and '96, a lot of tough decisions by republicans, a lot of cuts that weren't popular with democrats as well as welfare reform. we heard all the horror stories. but you look at the tough decisions you guys made in '93 and '94, the tough decisions that we made sometimes that you agreed with and sometimes you didn't. taken together, those were three or four pretty dramatic years of...
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Dec 27, 2012
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pledge not to increase taxes. lori: back off of politics. i'm curious about your take on the economy because the third quarter was revised upwards to over 3% growth. pretty good. you mentioned jobs, we're seeing some momentum, improvement in labor situation, housing is looking better, spending, questionable, almost like the economy, the domestic economy is like a powder keg ready to explode and to the good side meaning growth, not fall off a cliff, take a quick if you can out of the picture. how are the fundamentals of the economy? can you evaluate it without this other stuff going on in washington? >> the way to think about it is the economy in the fourth quarter is growing 1.5% to 2%. everyone's numbers around there. that is disappointing. the average in the postwar period was closer to 3 so we can do better. one of the reasons we are not doing better is there's so much uncertainty what government is going to do. i do believe we could have a great year next year provided that washington gets out of the way and i
pledge not to increase taxes. lori: back off of politics. i'm curious about your take on the economy because the third quarter was revised upwards to over 3% growth. pretty good. you mentioned jobs, we're seeing some momentum, improvement in labor situation, housing is looking better, spending, questionable, almost like the economy, the domestic economy is like a powder keg ready to explode and to the good side meaning growth, not fall off a cliff, take a quick if you can out of the picture....
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Dec 28, 2012
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persons and raise taxes on the country's top earners. it could include an extension of long-term unemployment benefits, spending cuts would also be postponed. >>> house speaker john boehner will be at today's meeting. he says the house will convene for a rare sunday evening session. eric cantor says the house could be in session until january 2nd. that's the day before the new congress is sworn in. boehner, meanwhile, still maintains that it's up to the senate at this point to make the first move. >>> going over the fiscal cliff could have a huge impact on the local economy. thousands of people could lose their jobs, especially federal employees and government contractors. the defense industry could face billions of dollars in cuts. >> i represent the third largest number of federal employees and probably the largest single number of federal contractors. so that federal nexus is really important to our economy. we immediate to end the uncertainty. >> economists say it is possible, though, this new terminology to step over if you will the
persons and raise taxes on the country's top earners. it could include an extension of long-term unemployment benefits, spending cuts would also be postponed. >>> house speaker john boehner will be at today's meeting. he says the house will convene for a rare sunday evening session. eric cantor says the house could be in session until january 2nd. that's the day before the new congress is sworn in. boehner, meanwhile, still maintains that it's up to the senate at this point to make the...
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Dec 23, 2012
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he was a deficit hawk, boy, we could use him today, who controlled government spending and taxes. the famous speech warning against the industrial complex was at the end of the presidency, but worked on it all along behind the scenes. heaven help us he liked to say when we get a president who knows less about the military than i do. it was not about the economy or saving money. in the berlin crisis and earlier crisis with korea and vietnam in 1953 over the strait in 1954-55 and 1958 in the suez crisis in 1956, he was planning a bigger gain for higher stakes. west point cadet and young army officer, ike was a great poker player, and, indeed, so good, he had to give it up. he was taking too much money from the fellow officers hurting his career. he switched to bridge, but he never forgot how to bluff. the soviets, he bluffed with nuclear weapons. as only a real warrior can, ike hated war. curiously, the great war hero was never in combat. in world war i, he was training troops to his great chagrin, and world war ii, he was too valuable and knew too much to risk getting captured or k
he was a deficit hawk, boy, we could use him today, who controlled government spending and taxes. the famous speech warning against the industrial complex was at the end of the presidency, but worked on it all along behind the scenes. heaven help us he liked to say when we get a president who knows less about the military than i do. it was not about the economy or saving money. in the berlin crisis and earlier crisis with korea and vietnam in 1953 over the strait in 1954-55 and 1958 in the suez...
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Dec 22, 2012
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do a tax cut before it expires. we have said for weeks it would be a lot easier for republicans after the tax cuts to come and vote for the 98% below and say, hey, we took the best tax cut deal we can. >> jared, i think that many in the country, and i speak to folks every day for three hours a day. i think that many were hoping for so much more. republicans and democrats, who took a look at that year-long effort, simpson-bowles, and thought it had some attractive qualities because there was equal pay. you know, the military was getting cut, entitlements were being reformed, taxes were being altered. we're nowhere near any of that now. >> put me on that list. i maybe a hard core policy wonk but we're exactly where they are. i think compromise is the only way we get from where we are to where we need go, and what i've tried to stress and the president has been good on this lately as well. we actually have an economic recovery. it's not strong yet, but it's starting to gain some traction. and the idea that you would ga
do a tax cut before it expires. we have said for weeks it would be a lot easier for republicans after the tax cuts to come and vote for the 98% below and say, hey, we took the best tax cut deal we can. >> jared, i think that many in the country, and i speak to folks every day for three hours a day. i think that many were hoping for so much more. republicans and democrats, who took a look at that year-long effort, simpson-bowles, and thought it had some attractive qualities because there...
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Dec 28, 2012
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you'll see estate taxes go up, investment taxes go up. there is an endless list of expiring provisions of law that will, in fact, expire if nothing is done. and i think even if something is done at this point, what you're looking at is something very scaled back, something very small and congress will have to come back next year and take a look at trying to get to some of those other issues. >> alistair here. that sounds about right to me, assuming that that scenario is how things play out. what sort of impact medium term do you think this is going to have on consumer and corporate confidence in america, given that the fiscal cliff is clearly weighed heavily on both of those in recent months? >> the sad thing, you know, from an observer's standpoint here is that there isn't much corporate or consumer confidence in the american government. and it's proved itself dysfunctional time and again over the last couple of years. what you hear now is not how people believe that there's going to be some last-minute deal, but how they remember the ti
you'll see estate taxes go up, investment taxes go up. there is an endless list of expiring provisions of law that will, in fact, expire if nothing is done. and i think even if something is done at this point, what you're looking at is something very scaled back, something very small and congress will have to come back next year and take a look at trying to get to some of those other issues. >> alistair here. that sounds about right to me, assuming that that scenario is how things play...
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Dec 23, 2012
12/12
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i tax, high benefits or a low tax, low benefits. host: the president is on his way to high this weekend. i am assuming speaker boehner is going to high and majority leader reid is going to nevada. will there be any discussions between anybody over the next week or so? when do we expect these five banks -- these guys will come back to wrap this up? guest: they will come back and wrap up the supplemental bill hand and a couple of pieces of legislation they have to do -- supplemental bill has and a couple of pieces of legislation they have to do anyway. u.s. something all of us on capitol hill are dying to find out. when -- you ask something of a who worked on capitol hill are dying to find out. at the present's post office -- press conference, someone yelled, when are you coming back? we want to have the longest section possible. host: thanks for being on the program. we will continue talking about >> we are joined by the authors of the nearly released the book, "the end of the line." glenn thrush and jonathan martin. live it 7:00 eas
i tax, high benefits or a low tax, low benefits. host: the president is on his way to high this weekend. i am assuming speaker boehner is going to high and majority leader reid is going to nevada. will there be any discussions between anybody over the next week or so? when do we expect these five banks -- these guys will come back to wrap this up? guest: they will come back and wrap up the supplemental bill hand and a couple of pieces of legislation they have to do -- supplemental bill has and...
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Dec 30, 2012
12/12
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we have a current tax rate, 15%. on january 1, the capital gains tax ra will jump to 23.8%. i talked to a lot of my frien and they say that's not a big dumb. what you say? >> it is a big jump. if you add state taxes on top of that, the united states will be up to 20%. our major trading partners, britain and europe and canada -- they are oly 16%. so there is a very good reason why just about every industrial country has a really low capital gains tax rate. that's because policymakers just about everywhere know that low capital gains tax rates are crucial for a growthof economy and entrepreneurship and high-technology industries. gerri: so what if we compare favorably with a lot of developed countries out there -- what would be the practical effect? >> it will slow the flow of venture capital and investment for high-technology companies. if you think about every major high-tech company like apple or microsoft or ebay or amazon, they were all nurtured by high income people putting money in early on to these startup companies. we dramatically cut the capital gains ta rate from 4
we have a current tax rate, 15%. on january 1, the capital gains tax ra will jump to 23.8%. i talked to a lot of my frien and they say that's not a big dumb. what you say? >> it is a big jump. if you add state taxes on top of that, the united states will be up to 20%. our major trading partners, britain and europe and canada -- they are oly 16%. so there is a very good reason why just about every industrial country has a really low capital gains tax rate. that's because policymakers just...
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Dec 26, 2012
12/12
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tax cuts. the lapse of the bush tax cut would mean the top would go to 39.6. tax rates would also go all for lower income earners. the maximum lowest rate going back to 15%. four investors, capital gains rates would revert to 20%. dagen: i will not utter that word. thank you for that. growing pessimism when it comes to the club. some americans say we will get a deal. let's bring in ted kaufman. he is joining us from wilmington tell me what happens if we go over the cliff? >> i have been saying for a while we will go over the cliff. republican members in the house have made it pretty clear they will not vote for tax increases. this has been around for 30 years. the simplest answer to this is what i predicted will happen and that is after the 31st that the bush tax cuts will expire and then there will be a bill in order to reinstate the taxes for everyone below the lowest 2% and republicans will be able to both about. i think that is what it will take to make this happen. dagen: are you surprised
tax cuts. the lapse of the bush tax cut would mean the top would go to 39.6. tax rates would also go all for lower income earners. the maximum lowest rate going back to 15%. four investors, capital gains rates would revert to 20%. dagen: i will not utter that word. thank you for that. growing pessimism when it comes to the club. some americans say we will get a deal. let's bring in ted kaufman. he is joining us from wilmington tell me what happens if we go over the cliff? >> i have been...
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Dec 28, 2012
12/12
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they pay sales taxes and% income-tax. [talking over each other] >> they pay less than nothing because we get earned income tax credit. dennis: all right, sounds good to me. [talking over each other] dennis: we will cut you down. shibani: the fiscal cliff survival kit is here. the market's jump in and fiscal cliff years. what should you do to protect your money, your portfolio, your sanity, your 401(k)? joining us is president and ceo of shaver asset management dan shaffer. good to have you on this friday, big day for the market. all these talks, i noticed movement in bond prices. in the currency market, what is your technical analysis telling you about these? >> the setup seems to be there is winding of speculation. i follow the commitment of traders report every friday afternoon by the cftc and the government and tell you who is on what side of the market so we're looking at speculator is being more of the bullish crowd where commercials or hedgers and these are the traders that are not neutral. they are not speculating.
they pay sales taxes and% income-tax. [talking over each other] >> they pay less than nothing because we get earned income tax credit. dennis: all right, sounds good to me. [talking over each other] dennis: we will cut you down. shibani: the fiscal cliff survival kit is here. the market's jump in and fiscal cliff years. what should you do to protect your money, your portfolio, your sanity, your 401(k)? joining us is president and ceo of shaver asset management dan shaffer. good to have...
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Dec 30, 2012
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we are talking about every american's tax rates who pays taxes, talking about the extension of unemployment, the estate tax this has more elements in it than most things do i think at the end of the day, you know, in the senate now, i think the senate will come to some sort of arrangement, they will push it over here and then i think the house will be the decisive arena, a lot will depend, obviously, on what the senate agrees to >> isn't that the question what will happen in the house? i don't think we have a concern, maybe i shouldn't stay quite that way, the house seems to be the clear focus on whether or not republicans can muster the votes needed. what is going to happen? >> a lot depends on the nature of the agree weren't, remember on the speakers a plan b, he had over 200 republican votes are, it is not as if he doesn't have an awfully strong hand to play. if it's a deal that john boehner can accept, then frankly, i think it will be passed in a bipartisan manner with a very strong majority. if, on the other hand, he is either neutral or not favorable, then his chances are going to be
we are talking about every american's tax rates who pays taxes, talking about the extension of unemployment, the estate tax this has more elements in it than most things do i think at the end of the day, you know, in the senate now, i think the senate will come to some sort of arrangement, they will push it over here and then i think the house will be the decisive arena, a lot will depend, obviously, on what the senate agrees to >> isn't that the question what will happen in the house? i...
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Dec 29, 2012
12/12
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LINKTV
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the tax would affect about 1500 high earners. the constitutional council which oversees all legislation it said the new law was not fair because it applies to individuals and not households. the french prime minister said the government would introduce a new version of the law. >> we will implement measures to respect the commitment of the president of the republic. it will take into account the rejection of the constitutional council and apply the 2013 incomes and will have to be voted. >>> in macedonia, thousands of protesters gathered outside of the headquarters of the right wing ruling party, demanded the prime minister's resignation. the rally is a combination of days of protests that began last week when the opposition was ejected from parliament after a disagreement over next year's budget. we have this report from the capital. >> a march against the government and the capital. but unlike the rest of europe, not against austerity cutbacks. the demonstrators accused the authorities of going on a spending spree which they cl
the tax would affect about 1500 high earners. the constitutional council which oversees all legislation it said the new law was not fair because it applies to individuals and not households. the french prime minister said the government would introduce a new version of the law. >> we will implement measures to respect the commitment of the president of the republic. it will take into account the rejection of the constitutional council and apply the 2013 incomes and will have to be voted....
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Dec 27, 2012
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at that point republicans can support a deal without voting for a tax increase, in fact, because tax rates have automatically reset higher, they can say now we're voting for a big tax cut for the broad middle class. >> is that what's going to ensure that speaker boehner is not in danger is it. >> right. i mean, that's where someone earlier said, you know, he's got to figure out whether he's for the country or for his own job. in many ways he's preserving his own job by not pushing a vote by which the only way that vote would get over the legislative would be with a majority of democrats. he doesn't want to do that to preserve his job. once we go over the cliff, we can possibly do more of a bungee jump if we reverse the damage quickly. in that vote republicans don't have to vote for a tax increase, which to me is absolutely ridiculous in terms of serving the economy and the country, but i guess the politics makes sense to some of these guys. >>> jared bernstein, thank you. the storm is coming. look at that storm, the symptom is coming behind you. >> you weren't talking about a fiscal
at that point republicans can support a deal without voting for a tax increase, in fact, because tax rates have automatically reset higher, they can say now we're voting for a big tax cut for the broad middle class. >> is that what's going to ensure that speaker boehner is not in danger is it. >> right. i mean, that's where someone earlier said, you know, he's got to figure out whether he's for the country or for his own job. in many ways he's preserving his own job by not pushing a...
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Dec 22, 2012
12/12
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tax rate. it is humongous. gerri: we talk about people rushg to the year-end, what other kind of impact does that have? >> it's making everyone scramble on every part of everybody. the banks from everybody trying to get ahead of everyone else to get the closingschedules. getting all the paperwork in order. gerri: is every attorney throughout the country, every real estatebroker -- are they running to meet this deadline? >> i'm talking about being on the phone at 2:00 a.m. and 3:00 a.m., all night. my counterparts in los angeles are telling me that they are in for the same thing. gerri: on a i kk a lot of people are thinking about selling. obviously, the fiscal cliff is now in play. but they still can derail themselves. >> yes, i have been involved when it does. one of the big thngs is if financinfalls through. gerri: what you see taking these deals are part? >> financing is the numberne cause. back in the headache. most of the appraisers are coming in under what they should be. so that's a nigh
tax rate. it is humongous. gerri: we talk about people rushg to the year-end, what other kind of impact does that have? >> it's making everyone scramble on every part of everybody. the banks from everybody trying to get ahead of everyone else to get the closingschedules. getting all the paperwork in order. gerri: is every attorney throughout the country, every real estatebroker -- are they running to meet this deadline? >> i'm talking about being on the phone at 2:00 a.m. and 3:00...
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Dec 27, 2012
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but also things like the alternative minimum tax, not to forget payroll tax. none of that is addressed in legislation, is that? >> literature that i've read through, i don't see any attention being paid to that. quite frankly, i am surprised that more hasn't been paid to taxes and spending earlier on. here we are in the last inning, trying to avoid going over the debt ceiling by issuing low-priced treasury securities, suspending those so that we don't hold the debt ceiling. we don't want breathing room until february. we want to have a plan in place that outlines a good plan. greg: procrastinators in washington dc -- they don't do anything unless they have to, right? >> it seems that way. it's unfortunate because i don't realize the exact ramifications. greg: thank you so much for joining us. happy holidays. >> happy holidays to you as well. heather: coming up, the person sentenced to death and then set free for converting from muslim to christianity. more coming up next. greg: a look at some crazy new laws in the books for 2013 heather: a changing of the guar
but also things like the alternative minimum tax, not to forget payroll tax. none of that is addressed in legislation, is that? >> literature that i've read through, i don't see any attention being paid to that. quite frankly, i am surprised that more hasn't been paid to taxes and spending earlier on. here we are in the last inning, trying to avoid going over the debt ceiling by issuing low-priced treasury securities, suspending those so that we don't hold the debt ceiling. we don't want...
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Dec 23, 2012
12/12
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how the heck do you file your tax return. it is it a simple tax return . it is the last day of return. they can't. it is so unfair. >> wayne, is it bad as tracey thinks it is it. >> i think i is worse than tracey thinks it s. amt or alternative minum tax wasa pass to hook the high bracket taxpayers. that was dropped down to 25,000. right in there and so that is for people filing as together. that means an extra 30 million people will be paying taxes that never paid taxes before. they don't understand the alternative minimum tax and if it is not attached. the fall out has to reconfigure and takes them 90 days and once again the government is not serving us. it is serving them selves. >> we are talking about 80 to million of those iacted by the fiscal cliff firasco and many americans may suffer because of it i think to look at what you are saying, - congress is ashamed to bringing uncertainty to americans who rely on tax returns to put back in the economy. i am sure for a lot of these folks that money is spent to pay off bills and holidays and get breathing
how the heck do you file your tax return. it is it a simple tax return . it is the last day of return. they can't. it is so unfair. >> wayne, is it bad as tracey thinks it is it. >> i think i is worse than tracey thinks it s. amt or alternative minum tax wasa pass to hook the high bracket taxpayers. that was dropped down to 25,000. right in there and so that is for people filing as together. that means an extra 30 million people will be paying taxes that never paid taxes before....
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Dec 30, 2012
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tax. it will help to rebuild our crumbling infrastructure. would that crum bem our economy instead . i am tracey in for cheryl casone. welcome to carbin'. wayne john and john and julian and carroll. welcome everyone. so, oregon's democraticic congressman asking for a mileage tax to rebuild our roses and bridges. john is thi good or bad what s going on here? >> this is a ridiculous. it is the wrong time to implement it. electric cars are decades away . having a mileage tax is cadesway . putting odom heretos and logging down to the mileage manually. this would cost a fortune for the tax. we have a gas tax that is do go through road and bridges. >> and talking about a vehicle miles traveled tax. someone like me wayne, so much. i understand why people would want to clarge me more. >> i understand it, too. but john is right we have a fuel tax. and and it is it another way to track pime and look for trouble . you got auelax and fuel x is a huge tax . they are using the argument to get better mil
tax. it will help to rebuild our crumbling infrastructure. would that crum bem our economy instead . i am tracey in for cheryl casone. welcome to carbin'. wayne john and john and julian and carroll. welcome everyone. so, oregon's democraticic congressman asking for a mileage tax to rebuild our roses and bridges. john is thi good or bad what s going on here? >> this is a ridiculous. it is the wrong time to implement it. electric cars are decades away . having a mileage tax is cadesway ....
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Dec 23, 2012
12/12
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what would the level be for taxes for revenue? how much would be raised in revenue, and, what would it mean in new spending cuts? >> the spending cuts would be $1,450 billion and, the revenue, 1,150 billion dollars and that is a combination of $2.6 trillion. and you couple that with the $1.1 trillion already done, and, you are at $3.7 trillion. and, look, is it perfect? no, everything we hoped for? no. does it match what bowles-simpson did? no. at an even comparison it would be $5.3 trillion. >> chris: you're in the weeds. let me ask you a quick question. are you saying you don't like the president's plan? >> look. it may come to that. but i would hope we'd have one last attempt here to do what everyone knows needs to be done. which is the larger plan that really does stabilize the debt, and get us moving in the right direction. and, does it in a way that is cognizant that we have an economy that is recovering, that is still weak. and, we don't slam it. we don't slam on the brakes here in a way that puts us back into recession. th
what would the level be for taxes for revenue? how much would be raised in revenue, and, what would it mean in new spending cuts? >> the spending cuts would be $1,450 billion and, the revenue, 1,150 billion dollars and that is a combination of $2.6 trillion. and you couple that with the $1.1 trillion already done, and, you are at $3.7 trillion. and, look, is it perfect? no, everything we hoped for? no. does it match what bowles-simpson did? no. at an even comparison it would be $5.3...
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or look for better advantages in terms of the tax system a good example of that was boots the chemist which was a company with a head office in nottingham for one hundred sixty one years and moved in switzerland where we had revenues of around eighty nine million pounds in corporation tax and they reduced that to nine million so burden is then placed on the u.k. tax payer increases i think in terms of the eighty or other forms of taxation it has to be found and we're the ones paying for it other nations government scrutinize every overseas bed france for example argues that it's in their national interest to prevent key technologies falling into foreign hands so while it's often difficult for a british company to buy abroad over thirty billion pounds worth of domestic companies made their way into foreign hands last year last month westminster said that it wouldn't change any laws but would take a greater interest in foreign acquisitions the only thing is by the time they get around to it there might be nothing left to sell poly boy art see london. iran's tough times as an internation
or look for better advantages in terms of the tax system a good example of that was boots the chemist which was a company with a head office in nottingham for one hundred sixty one years and moved in switzerland where we had revenues of around eighty nine million pounds in corporation tax and they reduced that to nine million so burden is then placed on the u.k. tax payer increases i think in terms of the eighty or other forms of taxation it has to be found and we're the ones paying for it...
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around eighty nine million pounds of corporation tax and they reduce that. burden is then placed on the u.k. touch increases in income tax over the eighty or over forms of taxation it has to be found and we're the ones paying for it other nations government scrutinize every overseas bid france for example argues that it's in their national interest to prevent key technologies falling into foreign hands so while it's often difficult for a british company to buy a broad over thirty billion pounds worth of domestic companies made their way into foreign hands last year last month westminster said that it wouldn't change any laws but would take a greater interest in foreign acquisition the only thing is by the time they get around to it there might be nothing left to sell. art see london flying in the face of international criticism israel has announced its plans to build more settlement homes in occupied east jerusalem and rings the total number of settlements approved in the last few weeks to five and a half thousand the details now from his point us here. what
around eighty nine million pounds of corporation tax and they reduce that. burden is then placed on the u.k. touch increases in income tax over the eighty or over forms of taxation it has to be found and we're the ones paying for it other nations government scrutinize every overseas bid france for example argues that it's in their national interest to prevent key technologies falling into foreign hands so while it's often difficult for a british company to buy a broad over thirty billion pounds...
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Dec 22, 2012
12/12
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you know, on the tax rate side, business people look at the after-tax return on investments on people thairchd businesses and we don't know what tax rate we're going to use there. we have huge uncertainty about the cost of labor from the health care law or bill. we don't know what that's going to be doing yet. >> when you polled people, they seem more optimistic. why? what's changed things? >> i think people have seen the light at the end of the tunnel. tl key is how do we get it resolved? we keep money in the hands of the consumer and the middle class. we do have to deal with the deficit problem and therefore the whole issue of whether we raise taxes on the upper two brackets has very little to do with small businesses because only 3% of the businesses actually pay with rates so we need target fiscal policies to keep money in the hands of consumers. you know, the payroll taxes affect people. the alternative middle-income tax needs to be fix and we need to make sure we don't cut spending programs that a lot of businesses rely on. >> for these people, where these two big issues don't r
you know, on the tax rate side, business people look at the after-tax return on investments on people thairchd businesses and we don't know what tax rate we're going to use there. we have huge uncertainty about the cost of labor from the health care law or bill. we don't know what that's going to be doing yet. >> when you polled people, they seem more optimistic. why? what's changed things? >> i think people have seen the light at the end of the tunnel. tl key is how do we get it...